Australia’s Labor party looking at ETS link with China

Published 17:13 on November 30, 2015  /  Last updated at 17:13 on November 30, 2015  /  Asia Pacific, Australia, China, China's National ETS, EMEA, EU ETS, Kyoto Mechanisms  /  No Comments

Linking Australia to China’s soon-to-be-launched emissions trading scheme is one of the options Australia’s main opposition party is looking at while it designs a carbon market proposal that it will take to next year’s election, party leader Bill Shorten said Monday.

Linking Australia to China’s soon-to-be-launched emissions trading scheme is one of the options Australia’s main opposition party is looking at while it designs a carbon market proposal that it will take to next year’s election, party leader Bill Shorten said Monday.

Shorten’s Labor party last week said it would set a 2030 target of cutting emissions 45% below 2005 levels and bring emissions to net zero by 2050 if it wins the 2016 election.

Labor plans to set up an emissions trading scheme with international links, although the final details of how the scheme would look won’t be ready until March.

Speaking to reporters on the sidelines of the UN climate talks in Paris on Monday, Shorten said Labor is “interested in looking at China” and that he was aware of the opportunities that would come with a link to China’s national ETS.

China will launch its national ETS in 2017, but the market is expected to begin fairly small and gradually scale up until 2020.

Chinese officials have previously said that the ETS would be an entirely domestic affair until 2020, but that China would study potential links to other markets after that.

Shorten told Carbon Pulse that no contact had been made with the Chinese side on a common carbon market. He stressed that it is early days for Labor’s ETS proposal and all options remain on the table, including setting up a link to the EU ETS or simply allowing for purchases of UN offsets.

By Stian Reklev – stian@carbon-pulse.com

Not yet signed up to CP Daily? Subscribe to our free newsletter here

Tweet about this on TwitterShare on LinkedIn0Share on Facebook0Share on Google+0

Comment

We use cookies to improve your website experience and to analyse our traffic. We also share non-personally identifiable information about your use of our site with our analytics partners. By continuing to use our site, you agree to this. More information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close